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Benzinga

Business

Henry Khederian

What's Going On With GameStop Stock Tuesday?

GameStop STOP Bitcoin Crypto GME GameStop Corp Benzinga Edge

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Shares of GameStop Corp (NYSE:GME) are trading marginally lower Tuesday afternoon, pausing after a rally on Monday that was fueled by a powerful surge in the cryptocurrency market. The stock’s modest pullback reflects a cooling-off period after being lifted by Bitcoin’s (CRYPTO: BTC) record-breaking performance.

What To Know: On Monday, GameStop shares climbed as Bitcoin rocketed to a new all-time high above $123,000. As a corporate holder of Bitcoin in its treasury, the video game retailer’s stock directly benefited from the broad enthusiasm for digital assets, showcasing its increasing correlation with the crypto space.

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